Updated Oct 28, 2024
Lance Geller Trustee Acquires Development Site In Miami Beach For $5.15M
1830 Daytonia Road, Miami Beach, FL 33141
$5,150,000
$429/SF
Building Size
12,000 SF
Asset Type
Development Site
Closing
Dec 10, 2021
About this deal
AI
An undeveloped property in Miami Beach has recently been sold for $5,150,000. Located at 1830 Daytonia Road, the development site spans approximately 12,000 square feet.
Summary of Transaction Details:
- Property Type: Development Site
- Transaction Amount: $5,150,000
- Address: 1830 Daytonia Road, Miami Beach
- Market: Miami Beach
The buyer in this transaction is Lance Geller, who acted as the trustee for the Lance Geller Trust. The seller was Mickael Benhamou, representing 1830 Daytonia LLC. The deal was facilitated by broker Juan de Jongh of Colfax Realty International.
This sale marks the successful transfer of ownership for this development site, providing an opportunity for future development in Miami Beach.
On the Map
$5,150,000
$429/SF
Development Site
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Players
Miami Beach Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
3.08%
Cash-on-Cash
-0.88%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93